SEOUL, Mar. 2 (Korea Bizwire) — Foreign investors turned net buyers of Korean stocks in February, snapping a two-month selling streak on the back of easing uncertainties in Greece and the U.S. central bank’s flexible stance on an interest rate hike, the Seoul bourse operator said Monday. Offshore traders bought a net 1.32 trillion won [...]
SEOUL, Feb. 16 (Korea Bizwire) – Hyundai Motor Co., South Korea’s top automaker, said Monday it will invest 2 trillion won (US$1.8 billion) over the next six years to beef up its commercial vehicle production and related research to develop new cars and engines. The investment to be completed by 2020 will be focused on [...]
“We shouldn’t hold back investment on the future even when business conditions are not bright. We have to find the momentum for growth by thoroughly preparing for trend changes.” – Lotte Group Korea chairman Shin Dong-bin SEOUL, Feb. 15 (Korea Bizwire) — Lotte Group, whose affiliates include retail, construction, chemicals and tourism, said [...]
DAEGU, Feb. 12 (Korea Bizwire) — Samsung Group, South Korea’s top conglomerate, said Thursday it will invest 90 billion won (US$81.3 million) to build a center at the conglomerate’s birth city that assists local startups. The group, which holds the world’s top smartphone maker Samsung Electronics Co. under its wing, said it will build the [...]
SEOUL, Feb. 5 (Korea Bizwire) – Hyundai Motor Group Chairman Chung Mong-koo and his son will seek to sell a part of their stakes in a logistics unit following a failed attempt last month, the automotive group said Thursday.In January, Chung and his only son, Eui-sun, vice chairman of Hyundai Motor Co., sought to sell [...]
SEOUL, Feb. 5 (Korea Bizwire) – POSCO, South Korea’s top steelmaker, said Thursday that it will focus on improving its financial structure this year by reducing investment and selling assets and equity holdings, following lackluster earnings results for last year. POSCO plans to invest 4.2 trillion won (US$3.9 billion) group-wide this year, down 1.2 trillion [...]
SEOUL, Jan. 27 (Korea Bizwire) — Hyundai Motor Group said Tuesday it will launch a 177.5 billion won (US$163.9 million) fund to support the development of new technologies and business activities for automobiles and hydrogen fuel cells. Hyundai Motor Group, which owns South Korea’s top two car manufacturers, Hyundai Motor Co. and Kia Motors Corp., [...]